Dingdong Maicai plans to be acquired by Meituan, stock price surges before market open

Meituan Makes a Major Move

On February 5th, Meituan announced on the Hong Kong Stock Exchange that the company plans to acquire all issued shares of Dingdong for $717 million. According to the agreement, the transferor can withdraw up to $280 million from the target group, but the net cash of the target group must not be less than $150 million. Dingdong Maicai was founded and controlled by Liang Changlin, and the target company is Dingdong’s directly wholly-owned subsidiary. This acquisition will make the target company an indirect wholly-owned subsidiary of Meituan, with its financial performance consolidated into Meituan’s financial statements.

In response, a person in charge from Dingdong Maicai told Securities Times that all information is subject to the announcement, and currently the company’s operations and team are normal and stable.

“From the announcement, this is a cash acquisition of $717 million, and the transferor can withdraw $280 million, so the total consideration is approximately $997 million,” said Zhu Danpeng, a food industry analyst at China Food Industry Analysis, to Securities Times’ e-company reporter. The fresh e-commerce sector has always been a highly competitive area for industry giants. Meituan has keenly captured the traffic dividend in the instant retail track and is actively布局 and continuously increasing investment.

“For Meituan, this move is a boost to its instant retail business; for Dingdong Maicai, it is a crucial support in difficult times, with both sides benefiting and complementing each other. This move is also an important focus for Meituan to deepen its instant retail布局 and expand its business footprint,” Zhu Danpeng said.

The announcement shows that Dingdong Maicai’s overseas business is not included in this transaction and will be divested before the closing. During the transition period, Dingdong Maicai will continue to operate according to its pre-transaction model.

Founded in 2017, Dingdong Maicai is a leading domestic fresh instant retail platform, and the company listed on the NYSE in 2021.

Before the U.S. stock market opened on February 5th, Dingdong Maicai surged nearly 10%, then pulled back slightly. As of the previous trading day, its market value was $694 million.

Public information shows that as of September 2025, Dingdong Maicai has over 7 million monthly purchasing users. Meituan announced that this acquisition will help fully leverage both parties’ advantages in product strength, technology, and operations to provide consumers with a better shopping and delivery experience.